Lincoln Heritage life insurance review 2021

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Lincoln Heritage is a smaller, family-owned life insurance company that exclusively sells final expense insurance. Its Funeral Advantage offering is the largest final expense insurance program in the U.S. Lincoln Heritage was founded in 1963 and has been selling final expense life insurance policies for more than 55 years. The company does not sell traditional individual life insurance policies, like term life or whole life policies.

  • Date established: 1963
  • Insurance products offered: Individual (final expense only)
  • AM Best financial strength rating: A- (Excellent)
  • NAIC complaint index: 1.94 (above average complaints)
  • Availability: 49 states and Washington D.C.
Pros Cons
Leading final expense insurance provider Does not offer term or whole life policies
Good financial strength ratings Cannot get an instant quote online
No medical exams are required Low coverage limits
Claims are usually paid out within 24 hours No local agents
Premiums tend to be affordable
Family support services are offered for free

Lincoln Heritage life insurance coverage types

If you are in the market for final expense insurance, Lincoln Heritage life insurance may be a good option. However, this provider does not sell traditional term life insurance or whole life insurance policies. The coverage limits are fairly low and the company does not list any riders on its website. Here is a closer look at what you get with Lincoln Heritage’s signature Funeral Advantage program:

  • Final expense insurance: Final expense insurance is designed to cover funeral expenses, including cremation services, burials and final medical bills. This type of policy is typically purchased by older adults who need guaranteed coverage. The Lincoln Heritage Funeral Advantage program includes up to $20,000 in coverage. There is no medical exam required and the premiums are generally affordable. This policy has a cash benefit and boasts a 24-hour claim payout for approved claims, plus level premiums for the duration of the policy. You can also purchase accidental death benefit coverage up to $100,000. Another perk of this policy is that it comes with free support from the Funeral Consumer Guardian Society (FCGS), which can help plan a funeral for your loved one and offer emotional support.

Lincoln Heritage life insurance customer and claims satisfaction

Because Lincoln Heritage is a smaller insurance company with limited offerings, it does not have many third-party reviews from reputable research organizations. However, it does have higher than average complaints per the National Association of Insurance Commissioners (NAIC).

Lincoln Heritage’s NAIC Company Complaint Index score for individual life insurance is 1.94, which is above the national baseline of 1.0. In 2020, the company had 17 total complaints for individual life insurance. Lincoln Heritage life insurance reviews indicate that the carrier may have some issues with customer experience and claim satisfaction.

In terms of accessibility, you cannot get a life insurance quote or file claims with Lincoln Heritage online. And while there are a variety of online resources, the company does not offer a life insurance calculator to help you determine how much coverage you need.

If you are a current Lincoln Heritage policyholder, you can make payments, download policy forms and view your policy details online. However, you will not be able to make any changes directly. You will need to contact an agent directly to file a claim or make changes to your coverage by calling Lincoln Heritage during business hours.

Other insurance products (if available)

While most life insurance companies offer multiple policies, Lincoln Heritage only offers final expense insurance, which is a form of guaranteed life insurance. It is also called funeral insurance or burial insurance. You cannot purchase any other type of life insurance or property insurance from this provider. All final expense policies are underwritten by Lincoln Heritage Life Insurance Company.

Written by
Elizabeth Rivelli
Insurance Contributor
Elizabeth has two years of experience writing for insurance domains such as Bankrate.com, The Simple Dollar, Coverage.com and NextAdvisor, among others. In addition to auto insurance, Elizabeth regularly writes about home insurance, renters insurance and life insurance. She also covers industry trends and general insurance education.
Edited by
Insurance Editor